Technical Comment For The Day: Crude Oil 12-Feb-2014

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images (12)The settlement for MCX Crude Oil on 11 February 2014 was at Rs 6215 per barrel, down 0.53%. Resistance for Crude Oil is at Rs 6300 per barrel and 6350 per barrel. The prices tested a low of Rs 6208 per barrel, and a high of Rs 6262 per barrel on Tuesday. Supports for Crude Oil are at Rs 6210 per barrel. RSI for Crude Oil was at 69, which indicate a balance situation. A call can be taken to sell Crude Oil near to Rs 6250 per barrel, for price targets of Rs 6200 per barrel. Stops can be maintained at Rs 6275 per barrel. NYMEX Light Sweet Crude Oil was trading at $ 100.46 per barrel, up $ 0.46 per barrel.

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